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Indian Startup Ecosystem Poised to Bolster Economy: AWS’ Kumara Raghavan

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The Indian startup ecosystem has reached a level of maturity, driven by multiple tailwinds, positioning India on a trajectory to become the third largest economy in the world. This assertion comes from Kumara Raghavan, Head of Startups for Amazon Web Services (AWS) India and South Asia, during a recent conversation with PTI.

Raghavan highlighted the strength and innovative potential of the Indian startup landscape, emphasizing its critical role in the nation’s economic ascent. “We are the 5th largest economy, trending towards becoming the 3rd largest,” he remarked. Key factors contributing to this growth include labor addition, infrastructure development, and efficiency improvements, with technologies like generative AI (GenAI) playing a pivotal role. Raghavan also cited the significant advantages of India’s large developer ecosystem, the ability to create products domestically and service them globally, along with supportive regulatory measures like the Make in India initiative and the Production Linked Incentive (PLI) scheme.

The maturity of the Indian startup ecosystem is evident, according to Raghavan, with seasoned founders driving the entrepreneurial landscape. “Over the last decade, we have seen founders launch multiple startups over the last 7-8 years,” he stated, noting that this accumulated experience has accelerated the lifecycle of startups and enhanced their chances of success.

India’s robust developer ecosystem further strengthens its startup scene, fostering a competitive edge and a culture of innovation. “These factors combine to give us very strong momentum,” Raghavan observed. “India is one of the most vibrant and open markets, with numerous opportunities to solve.”

Raghavan also pointed out the increasing adoption of GenAI by startups, showcasing examples such as Yellow.ai, Healthify, and Fibe (formerly EarlySalary) utilizing AWS’ GenAI capabilities to revolutionize customer experiences, streamline internal operations, and scale efficiently.